Retail CBDCs - The contrasting tales of two regions
In 2022, the contrast between Europe's and China's CBDC developments is widening sharply with today's announcement by the People's bank of China (PBOC) that, with the e-yuan app now available in the iOS and Android stores in China, over 260 million digital Yuan wallets have been opened by individual users (about one fifth of the population) with 87 billion yuan (12 billion euros) worth of transactions being implemented so far. In Europe, the ECB digital euro project is still within its investigation phase, expected to last until mid-2023.
More discussion on the implications of this development here (SGM Consulting blog page)
Fractional & Transaction CFO, Financial Models, b2bsaas.
3 年Hi Stephane, and thanks for highlighting this world changing issue. Has the ECB said why it wants to consider retail CBDCs? I saw some details on wholesale, and improving international settlements, but retail cbds have nothing to do with that. It seems to be racing ahead with the digital wallets, i.e. building the system, but without asking us if we want them, not considering privacy etc etc.